Terraced detached houses in Falkirk smash through the £135/sq ft barrier

As I mentioned in one of my blogs the other week, I was having a cup of tea at Finnegans Cafe recently with a landlord.  This landlord already has a couple of residential properties as well as a commercial unit that are doing very well for him and is on the look out for a third residential property.  When we were talking, he asked me a question that made complete sense in terms of commercial property but was as bit ‘left field’ from a residential property point of view – how much he should be paying per square foot?

Well, that was a challenge and you know how I like a challenge!

So I did my research and found out that:

• The average flat in Falkirk is currently selling for approximately £125 per square foot costing, on average, £91,508.
• Terraced houses in the town are currently selling for, on average, £109,952 or £137 per square foot.
• An average semi in Falkirk is obtaining £149,564 and achieving £152 per square foot.
• Finally, the average detached house in Falkirk is achieving £170 per square foot and is selling for £254,396 although this selling price is skewed by a relatively small number of high value properties that do not make viable buy to let properties.

Now these are of course averages, but it gives you a good place to start from.

My research also reveals that:

• Falkirk terraced houses tend to generate a better yield than detached and semi-detached houses (probably because they are cheaper to buy than semi-detached houses but rents as fairly similar) and flats (probably because there are a fair few flats for rent in Falkirk).
• Semi-detached houses tend to appreciate in value more rapidly than terraced houses but detached houses and flats tend to appreciate less.

So, terraced houses are the second cheapest to buy per sq ft, give the highest rental yield and give the second best capital growth.  That’s interesting.

If you would like to explore how we can help you with your property investments, or should you require any advice about investing in the Falkirk property market, wish to enquire about our Investment Analysis Reports, Property Sourcing, Residential Lettings or Property Management services, please do not hesitate to contact me for a chat – phone me on 01324 469840, email me on robert@thekeyplace.co.uk or pop into the office at 6 Vicar Street, Falkirk.

www.thekeyplace.co.uk

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